The Dream Approach
Backstory: Alvin and Wenqi were living with their parents due to family needs and they were renting their HDB flat at a high rental rate and earning passive income. However, they saw news of the HDB prices climbing but at the same time are skeptical about many agents' pitch of selling their HDB flat when they can enjoy passive income.
Desires: Like all our clients, first, we find out their why - why they were intrigued by the news of climbing HDB resale market when they were comfortably enjoying passive income. We realized they were wondering if they were making the best use of their resources as their property strategy currently is solely for investment.
Resources: Understanding their short and long-term needs and goals, we reviewed the family's financial resources and the current property portfolio. As the resale HDB market is at its highest, we explained with facts and historical data how their HDB is at its highest value, and by renting(although at a high rental rate), they are not utilizing their resources efficiently to achieve their desires (their why).
Explore & Assess: Next we look at the different options that they can consider for their short and long-term needs and goals. We assessed the different options, including keeping the current HDB for rental, using facts and figures to compare the return on their investment and the pros and cons for each option.
The Move: Being empowered with data and figures, they understood and decided now is the best time to sell their HDB and restrategize their property investment plan with 1-2 investment properties to increase their assets and net worth, at the same time enjoying both yield and potential capital appreciation.
Selling The Unit
Selling a tenanted unit in its original condition with years of dust piling up in the corners of the house was not an easy task. But with the right marketing strategies, we managed to achieve their expected selling price on the first day of viewings and received more-than-expected offers on the second day of viewings. The sellers were elated when we managed to close the unit exceeding their expectations, at a price higher than their direct neighbour's renovated unit.
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